India’s $40 billion Russian oil lifeline shouldn’t buckle under Trump’s 100% tariff threat: GTRI

Synopsis As long as it proves to be economically feasible, India should persist in acquiring Russian crude oil. A new Senate bill from the US threatens to impose significant tariffs on countries engaging in Russian energy purchases. Being one of the leading buyers, India might suffer trade penalties. This leads to a critical choice between accessing cheaper oil and retaining US export possibilities. India should not allow the threat of higher US tariffs to determine its energy policy and should continue buying Russian crude as long as it remains commercially attractive, the Global Trade Research Initiative (GTRI) has said, as…